Most entrepreneurs are so convinced that they are the disruptive element, they fail to anticipate that unknown facts or events can and will occur to disrupt their own well-laid plans. While it’s true that there is no way of know specifically what might happen, you need to anticipate the worst, and actually build a Plan B. People who haven’t thought about a Plan B often don’t survive the shock.
In my years of mentoring and working with startups, I’ve seen and read about some amazing disruptions, as well as recoveries, and I’m sure each of you could add your own. For example, you probably didn’t realize that both Facebook and YouTube started out intending to be dating sites, but implemented a Plan B when they found dating had become an over-saturated market.
While thinking about the most common surprises that I have seen with startups, and contemplating how to best prepare for them, I found some good guidance in a recent book, “Think Agile,” by successful entrepreneur and startup advisor Taffy Williams. I will key off his list of situations requiring dramatic plan changes, as well as the best ways to plan for these changes:
Each of these initiatives has to be led by an entrepreneur who is willing to manage with an open mind, not only during the formative stages of the business, but also during the growth stages. Most entrepreneurs start losing their agility with that first taste of success. The best ones are often viewed as paranoid, since they proactively look for problems well after the first success.
One of the best ways to increase agility is to focus on specific problems and drive them to resolution, rather than instinctively flailing through several problems at the same time at a high level, hoping that one of your many actions will stick. Scientists have shown that the best creative problem-solving consists of these five-steps:
These are turbulent times, as well as time for great opportunities, for the entrepreneurs that are agile, innovative, and open to change. Don’t get stuck in the past, or let some early success lead you to competitive lethargy or crippling indecisiveness. Those are the diseases of too many big business executives. You didn’t decide to be an entrepreneur to be like them.